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Egypt’s state-owned e-finance to go public

The offering is anticipated to include a primary issue and sale of up to 177 million ordinary shares on the EGX.
19.09.21 | Source: Ahram Online

e-finance for Digital and Financial Investments, Egypt’s first fintech platform and one of its leading developers of digital payments infrastructures, announced on Sunday plans to go public through proceeding a full initial public offering (IPO) and list its shares on the Egyptian Exchange (EGX).


The group did not set a date for the IPO.


The offering is anticipated to include a primary issue and sale of up to 177,777,778 ordinary shares on the EGX, in addition to a secondary sale by existing shareholders of up to 80,000,000 existing ordinary shares on the EGX, which together represent up to 14.5 percent of the group’s share capital, according to the Group.


e-finance said the offering will include an institutional offering; which is a placement to certain institutional investors in Egypt and elsewhere besides a retail offering to retail investors in Egypt.

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